Sunday, November 22, 2009

Property Gazette is reporting that Whitbread is seeking to raise around £30 million on the sale leaseback of five of its 584 Premier Inns to gauge market interest. BNP Paribas Real Estate has been retained by Whitbread to conduct the sale. Premier Inns will reportedly offer 25-year leases on the properties plus additional renewal option. A successful transaction at an attractive initial yield will likely lead to further Premier Inn sale leaseback opportunities in the near future.
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